Topton, North Carolina Property Taxes
The median property tax rate in Topton, NC is 0.38%, significantly lower than both the national median of 0.99% and the North Carolina state median of 0.82%. With the median home value in Topton at $447,040, the typical annual property tax bill is $1,608, well below the national median of $2,690. Property taxes in Topton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Topton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Topton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Topton, North Carolina Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$1,699
-$17,803
Ownwell’s Topton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Topton with just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Topton to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making financial planning easier. For those interested in neighborhood-level trends, scroll down to discover more localized insights. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Topton, North Carolina
Property taxes in Topton, North Carolina, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Topton is 0.38%, significantly lower than both the North Carolina state median and the U.S. national median of 0.99%. Local government entities within Topton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Topton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Topton's effective property tax rate to other regions in North Carolina and the national median. For comparison, the highest median property tax rate in the county is found in ZIP code 28713, with a rate of 0.46%, while the lowest median tax rate is in ZIP code 28702, at 0.34%. Understanding how these areas compare with Topton provides valuable insights into the varying tax landscape across Swain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Topton Tax Rate
0.38%
Average Swain County Tax Rate
0.44%
Average North Carolina Tax Rate
0.82%
Average United States Tax Rate
0.99%
Property Tax Rates Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | 0.36% | 0.37% | 0.38% | 0.44% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Topton, North Carolina
In Topton, North Carolina, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Swain County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Topton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Topton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Topton both stand at $1,608 in the 28781 zip code.
Average Topton Assessed Value
$447,040
Average Swain County Assessed Value
$144,900
Average North Carolina Assessed Value
$197,136
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $92,418 | $134,225 | $447,040 | $684,460 | $922,528 |
Source: Ownwell
Property Tax Bills Across Topton, North Carolina
In Topton, Swain County, NC, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and is intended to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. The median home price in Topton is $447,040, which provides a benchmark for understanding potential tax bills. For homeowners in Topton, the tax bills can range significantly. The 25th percentile tax bill is around $500, while the 75th percentile reaches up to $2,531, and the 90th percentile can be as high as $3,443. These variations depend on factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Topton's tax rates can have a substantial impact on homeowners, influencing their overall financial planning and property investment decisions.
Average Topton Tax Bill
$1,608
Average Swain County Tax Bill
$651
Average North Carolina Tax Bill
$1,615
Average United States Tax Bill
$2,690
Property Tax Bills Across Topton, North Carolina
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28781 | $427 | $500 | $1,608 | $2,531 | $3,443 |
Source: Ownwell